Altcoin’s market capitalization showed signs of an amendment in August. The total market capitalization of three, excluding BTC and ETH, fell from $1.1 trillion in week three to $1 trillion.
However, some altcoins have unique catalysts that help to maintain positive emotions. Based on emotional metrics from the data platform, the next Altcoins have the strongest bullish emotions in August.
1. Aerodrome Finance (Aero)
According to Coinmarketcap, Aerodrome Finance (Aero) is currently bullish sentiment of 89%, the best on the market.
Santiment Data also reveals that Aero’s social discussion volume in August reached an all-time high, reflecting growing interest in the project.
Positive sentiment coincides with aerio prices rise. Since the beginning of August, its price has risen 80%, up from $0.72 to $1.32.
Coinbase integrated Aerodrome’s distributed exchange (DEX) into the main app, so Aerodrome handled 48.3% of the base DEX volume. It surpasses big names like Uniswap and Pancakeswap.
Additionally, Aerodrome announced that its 24-hour DEX trading volume has reached $1 billion and total fees have exceeded $250 million.
These milestones have strengthened investors’ trust. Many people hope that prices will continue to rise in August. A recent analysis from Beincrypto suggests that Aero could rise to $1.85 if Aero continues.
2. Kaspa (Kas)
CoinmarketCap data shows that Kaspa (KAS) also had 89% bullish sentiment in August despite impressive priced performance.
Kas is on a roller coaster. That price went from $0.08 to $0.10, then returned to $0.085. However, the community remains bullish for reasons beyond price action.
The main driver is the expected release of Kasplex Layer 2 on August 31st. This upgrade paves the way for smart contract applications. Layer 2 brings new utilities to the KAS ecosystem, enabling distributed apps and scaling the network.
Testnet already shows strong engagement, with over 270,000 active wallet addresses and 14 million transactions being processed.
This momentum is attracting fresh investors’ attention, as reflected in the surge in Google search trends for the project.
In addition to the hype, X’s well-known investor Sjuul has recently highlighted Kaspa’s strong community support.
“While it’s difficult to compete with Bitcoin, there appears to be a huge community of $KAS users. After clearing multiple sources, Kaspa has achieved over 54,000 unique users every day, with more than 197m of transactions and mountain climbing, the Kaspa network can curb tensions. Sjuul said.
3. Sonic (s)
CoinMarketCap data shows that the Sonic(S) community is also bullish, with 83% positive sentiment in August.
At the same time, Sonic’s total value is locked (TVL) fell 60% from over $1 billion in May to $415 million in August. Still, investors remain optimistic thanks to the new developments. One of the highlights was a fundraising call for co-founder Andre Cronje’s Flying Tulip Dex.
The Flying Tulips are built entirely on Sonic’s Layer 1 blockchain. We aim to provide full-featured, high-performance distributed exchanges. This development is bullish for S, as it could expand S’s Defi Toolkit and attract senior traders.
In August, Sonic announced the Pectra upgrade of TestNet 2.1 integrated Ethereum, including EIP for gas optimization and account abstraction. The project promises to launch the mainnet soon.
These positive updates raised feelings for Sonic, despite its price being only 13% since the beginning of the month.
Each of these three altcoins has a unique reason behind bullish sentiment. Sometimes this optimism doesn’t translate directly into price increases. Still, it remains an important factor that investors should consider when recalibrating their portfolios.
Post 3 altcoins, which will lead August with their strongest bullish sentiment, first appeared on Beincrypto.
